Homebuyers Remain Active in Colorado Springs Real Estate Market

In the ever-changing landscape of the real estate market, the Colorado Springs housing market is no exception. While the intense frenzy of the past couple of years may have eased, it does not mean that today's market has come to a halt. As a seasoned Realtor® with over two decades of experience in navigating buyers markets, sellers markets, and shifting markets (like today), I can confidently say that buyer activity remains strong. In this blog post, I will delve into the current state of the market and shed light on how homebuyers continue to be actively engaged in the homebuying process.

The ShowingTime Showing Index:

To understand the current buyer activity, we turn to the reliable ShowingTime Showing Index, which measures how many buyers are touring homes. By examining the historical data, we can gain valuable insights into the seasonal patterns of real estate. In the past normal years (depicted in gray), buyer activity typically peaked in the first half of the year, during the bustling spring homebuying season, and slowed down towards the year's end. However, the pandemic's onset in March 2020 (depicted in blue) disrupted this trend, leading to the extraordinary 'unicorn' years of housing (depicted in pink). During this exceptional period, record-low mortgage rates and soaring buyer demand kept the market vibrant, maintaining the seasonal trends but at much higher levels.

The Current Market in 2023:

Now, let's shift our focus to the present – the year 2023. While buyer traffic may be slightly down from the previous month, it remains higher than the levels observed in the 'unicorn' years. This should not be misconstrued as a steep drop in demand. Instead, it reflects a gradual return towards more normal seasonality. As the ShowingTime report explains,

"Showing traffic declined about 10% in May... This follows a typical seasonal pattern – disrupted by the pandemic but now beginning to return..."

Sustained Buyer Demand:

To emphasize the strength of the current buyer demand, let's zoom in on the data from May over the past five years. The graph unmistakably shows that buyer demand is still potent, exceeding levels seen in May 2022 when concerns about higher mortgage rates started to impact the market. Moreover, today's buyer activity is far more robust than during the last normal years.

Implications for Sellers:

What does this mean for homeowners considering selling their properties? Simply put, buyers are actively searching for homes in Colorado Springs. Despite the current constraints caused by limited housing inventory, the market remains lively. According to U.S. News,

"Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market."

What Does This Mean for You?

In conclusion, the Colorado Springs housing market continues to be dynamic, with buyers displaying sustained interest in homeownership. As a seasoned Realtor® with a deep understanding of the local real estate market, I urge potential sellers not to underestimate the current buyer activity. If you have been contemplating selling your home, now may be an opportune time to list it and take advantage of the active buyer pool. My approach as a Realtor® is rooted in educating and guiding my clients and has earned me a strong reputation among homebuyers, sellers, and fellow agents alike. So, let's connect and start the process of achieving your real estate goals today. 719-434-7525

Posted by: Derek and Mariana Wagner
The Artisan Group, Keller Williams Premier Realty
25 N. Spruce Street, #200 - Downtown Colorado Springs
Top Colorado Springs real estate agents: 719-434-7525

Search houses for sale in Colorado Springs and surrounding areas

Find the value of your Colorado Springs home